Blockchain companies consider Uruguay to be one of the best and friendliest countries to expand their services.

The second edition of the blockchain and cryptocurrency technology event in Uruguay took place last September 5th in Montevideo.

The Blockchain Summit Uruguay had the collaboration of multiple companies dedicated to cryptocurrencies and blockchain technology, in addition to the direct participation of the Government and the Central Bank. The attendance of international guests was also noted.

The event makes possible talks, workshops and conferences dedicated to the new technologies of cryptocurrencies and blockchain.

It is known that more than 200 people were interested in the 40 talks dedicated to explaining the positive aspects of crypto assets, cases about the use of cryptocurrencies in companies, future challenges in global financial markets, among other topics.

Ignacio Verese, who is the main organizer of the event, explained to the local press that “the event aims to promote blockchain technology, cryptocurrencies and be the meeting point of the community. We also call the Government and the Central Bank of Uruguay to provide their position about this revolutionary technology and; thus, discuss favorable regulation”.

Uruguay Has Potential for the Crypto-market

German Tugores, Chief Operating Officer (COO) of Blockbear, commented, as well as Marcelo Montoro, Representative of Grupo Consultor, that Uruguay has all the potential to become one of the largest blockchain hubs in America.

They added that they spent months calling the participants of the event with the aim to generate real points of positive meetings for the industry. About the influence of Blockbear in the economy of the country, German told a web media dedicated to cryptocurrencies that the software that his company develops is the third largest export product in Uruguay.

He added that, for this reason, the product is excluded from the payment of certain taxes which ends up boosting the sector. This constitutes the point of greatest opportunity for software based on blockchain technology and for the adoption of cryptocurrencies and payments through digital platforms.

Regarding the current use of crypto assets, the organizers and attendees of the event explained that, although there are exchange houses in the country that help to make the conversion of fiat currency into any cryptocurrency, it is still difficult for anyone to have crypto assets. They explained that an important number of cryptocurrency exchange takes place within groups of chats.

Public Blockchain Platforms ​​for Companies in Uruguay

The event not only had a schedule of talks and workshops. Thanks to the approach of many experts in the industry, it was possible to know that many of those attending the event were making connections with experts in the regulatory area and technology development.

Paolo Coirolo, Board Member of Aeternity, gave his point of view when visiting the event. “We decided to participate in the event and put our operational base in Uruguay because we consider it the friendliest country to carry out an expansion process of our scalable smart contracts platform, we will also invest and enclose Latin American projects that use our blockchain”.

Although many participants of the event were motivated because of the assistance of government representatives, the Central Bank maintains a strong position regarding the adoption of cryptocurrencies in the country, due to the changing nature of these assets, and although they are not in charge of training the area, they were interested in meeting the blockchain service providers.

By María Rodríguez


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